… Rochelle Industrial Development Agency that has them paying a combined … An analysis by the New York State Authorities Budget Office found “little … “Very few projects of any significance are done in New York, completed in …

Additionally, the New Rochelle Industrial Development Agency provided an exemption from sales tax on … construction loan and a SONYMA-insured permanent loan through the New York State Common Retirement Fund (CRF).

Despite its best efforts to avoid litigation, the New York Public Service … The suit, filed in U.S. District Court for the Southern District of New York in … said Gary Toth, vice chair of the County of Oswego Industrial Development Agency

Despite its best efforts to avoid litigation, the New York Public Service … The suit, filed in U.S. District Court for the Southern District of New York in … said Gary Toth, vice chair of the County of Oswego Industrial Development Agency

This statement is submitted pursuant to the provisions of the New York State … SEQRA, New York’s Environmental Impact Assessment legislation, … that the Sleepy Hollow Local Development Corporation (“LDC”) and Village Board …

In today’s letter, Mahoney accused Miner of reneging on an agreement not to form a local development corporation to compete with the Onondaga … the $500 million that Central New York won in the Upstate Revitalization Initiative.

Spending by New York’s largest public authorities jumped $3.5 billion since last reported in 2013, with state and local authorities reporting nearly $60 billion in spending in their latest annual filings, according to a report released today by State Comptroller Thomas P. DiNapoli. Meanwhile, the combined debt of state and local authorities topped a quarter of a trillion dollars.

“Public authorities borrow and spend billions of dollars outside the state budget,” DiNapoli said. “And from Buffalo to Brookhaven, New Yorkers foot the bill. These shadow governments are responsible for the bulk of our hefty debt burden and are used to provide hundreds of millions of dollars annually in non-recurring resources to support the state budget. Recent authority actions suggest that authorities must do more to open their doors to public accountability.”

Of the nearly $60 billion spent, DiNapoli found that state public authorities spent $38 billion in their last reported fiscal year, while local authorities reported spending $21.5 billion. Of the 1,180 public authorities in New York, 325 are state authorities, 847 are local authorities and eight are interstate or international authorities, according to DiNapoli’s report.

DiNapoli’s report found that New York now relies on public authorities to undertake most of its borrowing -dubbed “backdoor borrowing” because it circumvents a state constitutional provision restricting the issuance of general obligation debt without voter approval. In addition, the state uses authorities to provide hundreds of millions of dollars annually to support the state budget, which disguises state spending levels and weakens transparency and accountability. The last two enacted state budgets combined anticipated more than $650 million in budget relief from the Metropolitan Transportation Authority, the New York Power Authority and others, essentially shifting costs from the general tax base to those who use authority services.

Just five years after the last major legislative public authority reform, DiNapoli’s report identified troublesome issues at several public authorities. They include:

The investigation of the Port Authority of N.Y and N.J. by the U.S. Attorney’s Office, the Manhattan District Attorney, the U.S. Securities and Exchange Commission and others, related to matters including the 2013 George Washington Bridge access lane closures;

The Thruway Authority’s indication in late 2013 that a toll and finance task force would be created to identify new resources to help pay for the new Tappan Zee Bridge. To date, however, the Authority has not established such a task force, and the financing plan and toll impact of the new bridge are unclear. Moody’s Investors Service and Standard & Poor’s Rating Services lowered their credit ratings for the Authority, citing factors that included uncertainty about funding of the new bridge and adequacy of overall Thruway toll revenues in coming years;

Findings by the Authorities Budget Office that the Environmental Facilities Corporation board made inappropriate use of executive session, dismissed concerns raised by the federal Environmental Protection Agency without proper consideration, and engaged in only limited discussion and participation in meetings regarding its approval of a $511 million loan to the Thruway Authority for projects associated with the Tappan Zee Bridge replacement; and

The Long Island Power Authority’s reduction of oversight for its service provider. Audits and reports on LIPA in recent years have identified areas requiring improvement, including adequacy of regulatory oversight, rate relief, financial management and debt, customer service, and storm preparation and response.

In total, public authorities employed 153,578 people at a cost of nearly $10 billion a year in total compensation, with more than 19,000 employees (nearly 13 percent) receiving total compensation of $100,000 or more. By comparison, less than 8.7 percent of state employees and 14.7 percent of New York residents earned as much.

Public authorities’ spending and activities — including purchases, personnel expenditures, contracts and other transactions — are not subject to the same independent review, oversight and reporting requirements as state agencies. The Comptroller’s audits of public authorities’ have revealed numerous examples of deficient contracting practices, improper expenditures and inadequate oversight. While the Public Authorities Accountability Act of 2005 and the Public Authorities Reform Act of 2009 established accountability mechanisms, authorities remain largely exempt from many day-to-day controls that apply to other government agencies.

The report is based on self-reported data by public authorities to the Office of the State Comptroller. The data, which is not independently verified by the Comptroller’s audits, represents the authorities’ most recently reported fiscal years, and does not reflect a common fiscal year or the state’s fiscal year.

Hyde was referring to the economic development slogan Cuomo’s adopted, “NewYork is Open for Business.” … is $10,000 for the EDC and $25,000 for the agency’s financial arm, Genesee Gateway Local Development Corporation.

… Industrial Development Agency, New York Green Inc., and Genesee Gateway Local Development Corporation. … not covered by a $175,000 grant issued by the New York State Energy Research and Development Authority.

GLENS FALLS — Glens Falls Industrial Development Agency will highlight two local development projects in an appeal to the state Legislature to … He said the issue is one over which New York City and upstate interests can unite.

… they will purchase for $3.5 million in Central Islip, Long Island, New York. … substantial financial benefits from Islip’s Industrial Development Agency, … to the Town of Islip Industrial Development Agency for the assistance provided.

“Westchester’s Industrial Development Agency understood our need for expanded facilities in the New York metropolitan area,” Mashburn said. “The financing made available through the IDA complements our investment of capital …

The Authorities Budget Office has completed its operational review of the Chemung County Industrial Development Agency (IDA). The report concludes that the IDA board routinely approves all applications for financial assistance and appears to provide little to no oversight or guidance regarding project selection, review and pre-approval. Additionally, more than half of the IDA’s board appears to have conflicts of interest by also serving on the board of the organization contracted to administer the IDA. The report identifies over $163,000 in revenues lost to local municipalities and districts due to poor oversight of projects and PILOT payments, and that over $327,000 in fees owed by project applicants was not received by the IDA. The report also found that the IDA’s projects generally failed to meet employment goals and that significant project data reported to the State by the IDA was inaccurate. This report is posted on the ABO website at: www.abo.ny.gov